RE: BITCOIN CASH (BCH) Update: BEARISH SCENARIO
As i remembered this is what you told us in your last write up*...."The only Altcoin I will not sell will be BCH, in fact I might increase my holdings on this coin as a bet that it could be reverse correlated to Bitcoin and rise during its wave IV correction".
I'm not being a doom and gloomer! Not at all! I'm not a fan of Jim Cramer, but I do agree with one thing he often said: Bulls make money, Bears make money, but PIGS get SLAUGHTERED. The wave IV volatility can slaughter profits very quickly. I'm taking mine. I refuse to be slaughtered. Be careful.
*Bitcoin (BTC) Update: We are VERY CLOSE to a wave (v) of 5 of III top! What to do? This is what I'm doing...read the blog.
https://steemit.com/bitcoin/@haejin/bitcoin-btc-update-we-are-very-close-to-a-wave-v-of-4-of-iii-top-what-to-do-this-is-what-i-m-doing-read-the-blog
Yes, and I still have a BCH position as a bet on an inverse relationship that could form with BTC. I also wrote that this non-phasic cycle may not occur right away and might occur post the start of correction. It was a speculative bet for me, a trade. If the inverse correlation shows, I shall add.
Now that BTC looks as it could take a major dip. Are you less bearish here? Also it seems to have picked up steam and never really crossed 500 too low.